Aug 9, 2008

Business - Bharti Wal-mart to start operations in 2009

CHANDIGARH: Bharti Wal-Mart, a joint venture between Bharti Enterprises and US-based retail giant Wal-Mart stores, on Friday said it will commence its wholesale cash and carry operations by early next year from the northern region.

"We will be starting our operations from from the first quarter calendar 2009," Bharti Wal-Mart CEO and Managing Director Raj Jain said.

Bharti Wal-Mart has set up a distribution centre of one-lakh square feet in Banaur near Chandigarh for facilitating its operations.

At a conference organised by industry body CII, Bharti Wal-Mart CEO and Managing Director Raj Jain said over 80 per cent of the goods including perishable items would be sourced locally to cater to small business enterprises.

Jain said, under the venture, efforts would also be made to facilitate credit to small stores from banks to run their operations.

Wholesale cash-and-carry operations would provide small retailers and business owners a wide range of products at the wholesale prices. This would help them to enhance their businesses and profitability, Bharti-Walmart said.

It would also serve kirana stores, fruit and vegetable resellers, restaurants and other business owners, the company added.